How much National Insurance do I pay as an employer?
Aug 27, 2021 · All employees under the age of 21 and apprentices under the age of 25 are exempt from employer Class 1 NICs, unless they earn £4,189.01 a month or higher.The employee will pay employee class 1 NICs, so there may still be an amount to pay to HMRC.
The Accountancy and Tax Service for Small Businesses | TaxAssist ...
TaxAssist Accountants provide tax accountancy services and advice for small businesses in the UK. For year end accounts, bookkeeping, tax return services, VAT and payroll services contact Us on 0800 0523 555
What you need to know about associated companies
Jan 17, 2024 · If a company is associated with one or more companies, the profit bands for determining which corporation tax rate is applicable, and the upper profit limited used in the marginal relief calculation are apportioned by dividing them by the number of associated companies.. Example . For a company whose profits are £80,000, marginal relief would apply and their corporation tax liability is found ...
Our Guide to Understanding P60s - TaxAssist
Oct 4, 2023 · A P60 is important as it proves the income tax you have paid on your employment or pension. You can use it as evidence to third parties who may ask to see it. Our guide will explain your P60, including what it includes and what to do if it is incorrect.
Sole trader vs limited company – Which is better? - TaxAssist
Dec 17, 2021 · Advantages of being a limited company . Official Government figures show that at the start of 2023, 2.1m (37%) of the UK’s 5.5m businesses were actively trading limited companies.. The process of becoming a limited company is known as incorporation. Before setting up as a limited company, it is important to understand the advantages and disadvantages.
A guide to tax on inheritance and gifts - TaxAssist
Feb 10, 2023 · With planning and assistance, the burden of IHT can be avoided and allow you to gift assets and cash during your lifetime IHT efficiently. Our guide to tax on inheritance will provide you with an insight as to how and when IHT needs to …
The tax benefits of electric vehicles - TaxAssist
Feb 19, 2021 · The percentage for fully electric cars (0g/km) will increase to 4% in 2026/27 and 5% in 2027/28. Electric vans. In April 2021, they reduced the taxable benefit for having the private use of a zero-emission van to zero.
Guide to corporation tax for limited companies - TaxAssist
Mar 28, 2022 · If you are running a limited company, you are subject to corporation tax. The rules can be complicated so it’s important to understand them to avoid a penalty. Discover everything you need to know, from corporation tax rates to deadlines, in our ultimate guide.
Employment Allowance – What is it and are you eligible? - TaxAssist
Jun 11, 2024 · Catherine Heinen, FCCA. Catherine is a Technical Content Writer at TaxAssist Accountants, and a qualified accountant. With experience working at two accountancy practices in the UK top 50 accountancy firms according to Accountancy Age, Catherine has significant experience in accounts, tax returns and advising clients.
Understanding cash basis accounting: A simple guide
May 29, 2024 · As a business owner, choosing the right accounting method is crucial for managing your finances effectively. Cash basis accounting is a popular choice among SMEs in the UK, offering a simplified approach to bookkeeping and tax reporting.